Here's a coherent summary of the 2014-05-21 WCN episode "DN #011 Part 2: Darkcoin Competitors Zerocash and CryptoNote":
Summary:
This episode of What Bitcoin Did explores the burgeoning landscape of privacy-focused cryptocurrencies beyond Darkcoin, specifically focusing on CryptoNote and ZeroCash. The discussion begins with CryptoNote, an open-source technology used by several altcoins like Bytecoin, Monero, Phantom Coin, and Quasar Coin, developed by a mysterious team operating under pseudonyms. The hosts highlight Monero, with an estimated market cap of $13.9 million (as of May 6th, 2014), as a potential early investment opportunity.
The episode then shifts to ZeroCash, a competitor to Darkcoin built upon the research of Matthew Green (Johns Hopkins University) and others, utilizing zk-SNARKs and DAP schemes to achieve decentralized anonymous payments. The hosts contrast the financial motivations behind launching many altcoins with the unpaid work of Bitcoin developers and acknowledge the academic rigor behind ZeroCash’s development. They also discuss the limitations of early e-cash protocols and how ZeroCoin attempted to improve upon them, ultimately falling short due to performance and functionality issues.
The episode categorizes the cryptocurrency space into three camps: Bitcoin (with Dark Wallet leading privacy efforts), ZeroCoin, and other emerging projects. The hosts caution against investing in Libertycoin, and emphasize the importance of scrutinizing the security and accessibility of these newer cryptocurrencies.
Main Topics:
Key Quotes:
People Mentioned:
Bitcoin Price: Not explicitly mentioned.